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India unexpectedly keeps rates unchanged even as cash crunch roils economy

India’s central bank unexpectedly kept its key policy rate unchanged at 6.25 percent on Wednesday, despite calls for action in the face of an intense cash shortage that threatens to slam the brakes on the world’s fastest-growing large economy. The Reserve Bank of India’s (RBI) monetary policy committee voted 6-0 to leave the repo rate […]

Britain will help GCC states ‘push back’ against Iran aggression: PM May

DUBAI: Britain will help Gulf states “push back” against aggressive regional actions by Iran, Prime Minister Theresa May told the Gulf Cooperation Council (GCC) in Bahrain on Wednesday in a televised address. “We must… continue to confront state actors whose influence fuels instability in the region,” May told Gulf leaders at their annual summit. “So […]

Daimler May Make Mercedes-Benz Electric Cars in China

As part of a drive to manufacture more products locally. Daimler may make batteries and Mercedes-Benz electric cars in China as part of a drive to manufacture more products locally and to try to boost sales, according to board member Hubertus Troska. Sales of the German company’s luxury cars in China have grown 28% so […]